Cushman & Wakefield, the leading global real estate services firm, has advised M7 Real Estate (“M7”), the pan-European investor and asset manager specialising in multi-tenanted properties, on the sale of an office asset in Carnaxide, Portugal, on behalf of M7’s Portuguese Industrial Fund, “PIF”.
The property will be used for the new offices of Acolad (formerly Amplexor) in Portugal – a world-leading content and language services provider –, reinforcing the group’s investment in the region, dubbed Europe’s fastest-growing tech hub.
Situated in close proximity to Lisbon, the property comprises c. 1,800 sq m with three floors above ground and is well connected with direct links to the A5 motorway.
Present in more than 25 countries, Acolad stands out as European leader and top 10 worldwide player in the language industry. This operation confirms the group’s expansion plan to reinforce its footprint and leadership position worldwide.
Carlos Oliveira, Head of Office Agency at Cushman & Wakefield Portugal, said: “This property, due to its location and size, provided Acolad with the new office space it was looking for, and the possibility of acquisition also made the operation more attractive.”
Leonardo Peres, Managing Director of M7 Real Estate in Portugal said: “Following the acquisition of this office building near Lisbon, we worked closely with all local stakeholders to leverage our asset management expertise in order to reposition the property. In the process, we were able to secure a license to fully refurbish the project, successfully increasing the value of the asset in a relatively short time frame. The sale of this asset comes at an opportunistic time which is ahead of our business plan and is testament to the continued resilience of the Portuguese office market.”
Olivier Marcheteau, Acolad CEO, said: “The new office strengthens Acolad’s commitment to our operations in Portugal where we already have highly qualified teams operating across key areas such as IT, Finance, Marketing, Quality and Operations. For a global business like ours, Portugal ticks several boxes in terms of accessibility, internationality and tech-oriented environment.”